Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells $1,796,804.52 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 19,852 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $90.51, for a total transaction of $1,796,804.52. Following the completion of the sale, the chief marketing officer now directly owns 18,141 shares in the company, valued at $1,641,941.91. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Amy Messano also recently made the following trade(s):

• On Wednesday, May 8th, Amy Messano sold 153 shares of Altair Engineering stock. The stock was sold at an average price of $84.38, for a total value of $12,910.14.
• On Wednesday, March 13th, Amy Messano sold 112 shares of Altair Engineering stock. The shares were sold at an average price of $81.66, for a total transaction of $9,145.92.
• On Monday, March 4th, Amy Messano sold 291 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total transaction of $24,828.12.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR traded up $0.13 during trading on Thursday, reaching $90.78. 173,171 shares of the company’s stock traded hands, compared to its average volume of 403,625. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $84.33 and a 200-day simple moving average of $81.80. The firm has a market cap of $7.54 billion, a PE ratio of 1,007.22, a P/E/G ratio of 11.41 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. As a group, analysts predict that Altair Engineering Inc. will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering during the fourth quarter worth about $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth about $33,000. Harvest Fund Management Co. Ltd increased its position in shares of Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after purchasing an additional 903 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Altair Engineering by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares in the last quarter. Finally, Natixis Investment Managers International increased its position in shares of Altair Engineering by 68.7% during the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after purchasing an additional 790 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ALTR shares. Oppenheimer increased their price target on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. JPMorgan Chase & Co. upped their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.60.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.